Chevron, Exxon stocks fall as lower refining margins, falling natural gas prices hit profits [Yahoo! Finance]
Exxon Mobil Corporation (XOM)
Last exxon mobil corporation earnings: 5/1 07:34 am
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Source: Yahoo! Finance
quarter that were impacted by lower natural gas prices and a decrease in refining margins. ExxonMobil's adjusted earnings of $2.06 per share fell 27% from the prior year period and came in short of analysts estimates for $2.19 per share. Profit in the company's refining segment sank more than 60% from a year ago to $1.4 billion "While consensus estimates forecast a decline from profit levels a year ago, the drop was a bit more severe than anticipated," Peter McNally, global sector lead for industrials materials and energy at Third Bridge, said in a note on Friday. Chevron's first quarter adjusted profit came in at $2.93 per share, beating estimates for $2.90, but still down roughly 17% from the same period last year. The company attributed "lower margins on refined product sales and lower natural gas realizations" for the profit decline. Exxon stock was down 4% while Chevron's declined roughly 1% in mid-morning trading. Natural gas prices have plummeted this past year, down
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XOM
Earnings
- 4/26/24 - Miss
XOM
Sec Filings
- 5/6/24 - Form PX14A6G
- 5/6/24 - Form 3
- 5/3/24 - Form S-8
- XOM's page on the SEC website